Black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, an official said on Thursday.
4.9k crore : Pradhan Mantri Garib Kalyan Yojna
The income tax department, a top government official told PTI, has collected a tax of Rs 2,451 crore till now from these declarations.
“21,000 people disclosed Rs 4,900 crore of black money under the PMGKY scheme that closed on March 31 this year. These are now the final figures,” the official said, adding that the I-T department is now following up on the legal processes with the declarants in few cases.
The scheme was launched in December last year by the government to enable people with black money to come clean by paying tax and penalty of 50%. It closed on March 31 this year.